Dave Ramsey

Weekdays 1:00pm - 3:00pm

Bernie is calling in from Maine, a couple of years ago she had a house that was fully paid off and no debt. Unfortunately, her home burnt down and was considered a total loss. Thankfully she was well insured and was able to completely rebuild and thanks to Bernie’s frivolous spending they have rebuilt the home and come out on top with $100,000 extra in savings. Her question for Dave is how should she go about investing this money to ensure her retirement is a success. Bernie does have further plans to improve her house and would like to spend some money there but it won’t cost her that much to do what she has planned. She has no issues with income as she and her husband have multiple sources of income.

Dave suggests setting a budget to finish the house. This is just a different form of investment that Bernie is calling about and once she is done then it will be time to invest in other means. Bernie has roughly $20,000 left of outside remodeling leaving her a total of $80,000 to appropriate elsewhere. Dave believes her best bet is to invest in other sources of income. Mutual Funds, which are professionally managed investments are on the top of his list. However, she needs to finish one investment before moving on to the next. The trauma of losing everything like she did will still be a constant reminder until she manages to fix this.

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Dave Ramsey is America’s trusted voice on money. 23 million get guidance from Dave’s radio show on Money Talk 1010, his podcasts, and videos. He’s a national best-selling author and has changed over 6 million lives with his guided money plan.

 

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